Glacier FarmMedia – Canola futures on the Intercontinental Exchange were lower on Friday morning with mixed sentiment in comparable oils.
Agriculture and Agri-Food Canada raised its production estimate for new crop canola by more than two million tonnes at 20.1 million in its monthly report on Thursday. Statistics Canada will release its satellite and model-based estimates on Aug. 28.
Chicago soyoil and European rapeseed were down while Malaysian palm oil was up. Crude oil was relatively steady, but is still on track for a weekly gain due to uncertainty over peace talks between Russia and Ukraine.
The Prairies will see cooler temperatures today before the mercury rises in the next few days. The eastern half of the region will see some rain today.
The Canadian dollar was down more than one-tenth of a U.S. cent compared to Thursday’s close.
Nearly 11,800 contracts were traded. Prices in Canadian dollars per metric ton as of 8:46 CDT:
Nov 658.80 dn 4.50
Jan 669.50 dn 4.90
Mar 679.30 dn 4.90
May 687.00 dn 6.20
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
